Boeing’s strike ends after machinists approve new labor contract with 38% wage increases
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Boeing Strikes End as Workers Accept Latest Deal
Above: Jon Holden, International Association of Machinists and Aerospace Workers District 751 president, speaks after striking union members voted to accept Boeing's latest contract offer on Nov. 4, 2024. Image copyright: Jason Redmond/AFP/Contributor via Getty Images
The Facts
Union members from the International Association of Machinists and Aerospace Workers (IAM) in Seattle voted to accept the latest pay offer from Boeing on Monday, ending more than seven weeks of strikes that reportedly cost the aviation giant $50M a day.
Members voted by 59% to approve the latest offer. It included a 38% pay rise over four years, a $12K signing bonus, and retained a performance bonus that the company wanted to eliminate.
The Spin
Narrative A
In an act of self-sabotage, Boeing workers held the company hostage for seven weeks, allowing it to bleed millions of dollars a day. While Boeing is relieved to have this issue resolved and is ready to resume production of its planes and generate some much-needed cash, it has an uphill battle as it's in a weaker position than it was before.
Narrative B
This deal is a band-aid solution that fails to meet some of the striking workers' most essential demands. The union members will continue to fight for what they deserve, including the restoration of the defined-benefit pension scheme. This debacle is far from over.